Kingsway (KFS) CFO & EVP Hansen acquires 114 ESPP shares at $13.69

Rhea-AI Filing Summary

Kingsway Financial Services Inc. executive transaction: CFO & EVP Kent A. Hansen acquired 114 shares of Kingsway common stock on February 2, 2026 at a price of $13.69 per share.

The purchase was made through the Kingsway America Inc. Employee Share Purchase Plan, where eligible employees contribute up to 5% of adjusted salary and, after 12 months of employment, receive a 100% company matching contribution. Following this transaction, Hansen beneficially owned 119,707 common shares, including restricted stock grants of 7,102 shares from March 26, 2024 and 13,818 shares from December 4, 2024.

Insider Trade Summary

Net Buyer: 114 shares ($1,561)

Net Buy 1 txn

Insider Hansen Kent A

Role CFO & EVP

Bought 114 shs ($2K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	114	$13.69	$2K

Holdings After Transaction: Common Stock — 119,707 shares (Direct)

Footnotes (1)

1. The shares of Common Stock were acquired pursuant to the Kingsway America Inc. Employee Share Purchase Plan, as amended and restated effective May 29, 2014 (the "ESPP"). Pursuant to the ESPP, eligible employees may contribute an amount up to 5% of adjusted salary for each regular payroll period and, to the extent such employee has been employed by Kingsway America Inc. and its subsidiaries for 12 months, the company will make a matching contribution equal to 100% of such employee's contribution. The employee contributions and company contributions are used to purchase, as soon as administratively practicable after the date of such contributions, shares of Kingsway Financial Services Inc. The shares are acquired by the administrator of the ESPP on the open market through the services of a duly registered stockbroker. Includes 7,102 shares of restricted stock granted on March 26, 2024 and 13,818 shares of restricted stock granted on December 4, 2024.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Hansen Kent A

(Last) (First) (Middle)

10 S. RIVERSIDE PLAZA

SUITE 1520

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
KINGSWAY FINANCIAL SERVICES INC [ KFS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO & EVP

3. Date of Earliest Transaction (Month/Day/Year)
02/02/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/02/2026		P		114(1)	A	$13.69	119,707(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The shares of Common Stock were acquired pursuant to the Kingsway America Inc. Employee Share Purchase Plan, as amended and restated effective May 29, 2014 (the "ESPP"). Pursuant to the ESPP, eligible employees may contribute an amount up to 5% of adjusted salary for each regular payroll period and, to the extent such employee has been employed by Kingsway America Inc. and its subsidiaries for 12 months, the company will make a matching contribution equal to 100% of such employee's contribution. The employee contributions and company contributions are used to purchase, as soon as administratively practicable after the date of such contributions, shares of Kingsway Financial Services Inc. The shares are acquired by the administrator of the ESPP on the open market through the services of a duly registered stockbroker.

2. Includes 7,102 shares of restricted stock granted on March 26, 2024 and 13,818 shares of restricted stock granted on December 4, 2024.

	/s/Debra S. Rouse, attorney-in-fact for Kent A. Hansen	02/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Kingsway (KFS) disclose for Kent A. Hansen?

Kingsway reported that CFO & EVP Kent A. Hansen acquired 114 shares of common stock on February 2, 2026 at $13.69 per share. The shares were purchased through the company’s Employee Share Purchase Plan using employee and matching company contributions.

How many Kingsway (KFS) shares does Kent A. Hansen own after this Form 4?

After the reported transaction, Kent A. Hansen beneficially owned 119,707 shares of Kingsway common stock. This total includes restricted stock grants of 7,102 shares from March 26, 2024 and 13,818 shares from December 4, 2024, as noted in the filing footnotes.

What price did Kent A. Hansen pay for Kingsway (KFS) shares on February 2, 2026?

Hansen’s February 2, 2026 acquisition was reported at a purchase price of $13.69 per Kingsway common share. The 114 shares were acquired through the Employee Share Purchase Plan, which uses employee contributions and matching company funds to buy shares on the open market.

How does the Kingsway America Inc. Employee Share Purchase Plan work?

Under the ESPP, eligible employees may contribute up to 5% of adjusted salary each payroll period. After 12 months of employment, the company matches 100% of contributions, and these combined amounts are used to buy Kingsway Financial Services Inc. shares on the open market.

Are the Kingsway (KFS) ESPP shares bought directly from the company?

No. The filing states that ESPP shares are acquired on the open market by the plan administrator through a duly registered stockbroker. Both employee contributions and the company’s matching contributions are used to purchase Kingsway Financial Services Inc. common shares this way.